{
  "ticker": {
    "uuid": "775c468e-2b2b-4088-94a1-ca85cd09b6d2",
    "symbol": "VWSB",
    "name": "Vestas Wind Systems A/S",
    "exchange": "VIE",
    "country": "AT",
    "assetType": "equity"
  },
  "methodBoundary": "Trend Architecture is a weekly structural classification, not a forecast, probability of return, recommendation or execution signal. Confidence measures geometric agreement and external confirmation only.",
  "analysis": {
    "eligible": true,
    "as_of": "2026-08-07",
    "benchmark": "^ATX",
    "stage": 3,
    "stage_name": "Distribution",
    "phase": "3a",
    "phase_label": "Stage 3A \u00b7 Churning",
    "transition": "stage_3_churning",
    "transition_label": "Stage 3 range intact",
    "confidence": 96.0,
    "architecture_regime": "deceleration",
    "architecture_regime_label": "Deceleration",
    "architecture_modifier": "Momentum cooling",
    "architecture_gate": "up",
    "architecture_direction": 7.927,
    "architecture_energy": 12.183,
    "architecture_maturity": 23.914,
    "architecture_confidence": 62.766,
    "architecture_tenure": "Developing",
    "architecture": {
      "interpretation": {
        "headline": "The upward structure remains, but its energy is decelerating.",
        "body": "Trend remains positive, but Activity or price acceptance is losing strength. This can become a healthy recompression, a re-acceleration, or a Rotation Down."
      },
      "scores": {
        "balance": 58.46,
        "rotation_up": 25.83,
        "upward_expansion": 43.84,
        "deceleration": 71.33,
        "rotation_down": 32.6,
        "downward_expansion": 37.84
      },
      "activity_lines": [
        23.531333,
        23.630727,
        24.05648,
        23.830005
      ],
      "activity_state": "Compressed",
      "activity_direction": "Expanding",
      "rotation_direction": "Weakening",
      "price_acceptance": -0.5
    },
    "latest_close": 23.809999,
    "trend_reference": 23.475439,
    "distance_from_trend": 0.014251,
    "trend_direction": "Improving",
    "fair_value": 19.210807,
    "distance_from_fair_value": 0.239406,
    "fair_value_direction": "Weakening",
    "relative_strength": -8.383081,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.107174,
    "excess_performance": -0.067072,
    "evidence": [
      {
        "label": "Price vs Trend",
        "positive": true,
        "value": 0.014251,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.031575,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.239406,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": false,
        "value": -0.120199,
        "read": "Moving away"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": false,
        "value": -0.083831,
        "read": "Lagging"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.25957,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.107174,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.302326,
        "read": "Demand-led"
      }
    ],
    "volume": {
      "latest": 60,
      "relative_activity": 0.068159,
      "balance": 1.302326,
      "dry_up": 0.184028,
      "accumulation_observations": 0,
      "distribution_observations": 0
    },
    "risk": {
      "range_context": 0.066326,
      "annualized_volatility": 0.366914,
      "from_high_reference": -0.122697,
      "from_low_reference": 0.676849
    },
    "levels": {
      "trend_reference": 23.475439,
      "fair_value_reference": 19.210807,
      "structural_low": 19.806137,
      "invalidation": "A decisive breakout above range resistance with renewed RS leadership invalidates the distribution reading; a range-low break confirms deterioration."
    },
    "outcomes": [
      {
        "horizon": "Near term",
        "sample_count": 11,
        "median_return": 0.014487,
        "positive_rate": 0.636364,
        "directional_follow_through": 0.636364,
        "median_excess_return": 0.014814,
        "regime_survival": 0.636364,
        "best_return": 0.261396,
        "worst_return": -0.078751,
        "sufficient": true
      },
      {
        "horizon": "Intermediate",
        "sample_count": 4,
        "median_return": 0.12356,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": 0.081589,
        "regime_survival": 0.0,
        "best_return": 0.423782,
        "worst_return": -0.046773,
        "sufficient": false
      },
      {
        "horizon": "Extended",
        "sample_count": 3,
        "median_return": -0.137904,
        "positive_rate": 0.333333,
        "directional_follow_through": 0.333333,
        "median_excess_return": -0.198218,
        "regime_survival": 0.333333,
        "best_return": 0.454207,
        "worst_return": -0.177225,
        "sufficient": false
      },
      {
        "horizon": "Full cycle",
        "sample_count": 2,
        "median_return": -0.198854,
        "positive_rate": 0.5,
        "directional_follow_through": 0.5,
        "median_excess_return": -0.385972,
        "regime_survival": 0.5,
        "best_return": 0.061772,
        "worst_return": -0.45948,
        "sufficient": false
      }
    ],
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        "color": "green",
        "start": "2024-01-05",
        "end": "2024-02-02",
        "tenure": "Developing",
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        "active": false
      },
      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
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        "end": "2024-04-26",
        "tenure": "Developing",
        "return": -0.040514,
        "active": false
      },
      {
        "regime": "rotation_down",
        "label": "Rotation Down",
        "color": "orange",
        "start": "2024-05-03",
        "end": "2024-05-10",
        "tenure": "New",
        "return": 0.052242,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
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        "end": "2024-06-21",
        "tenure": "Developing",
        "return": -0.073959,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2024-06-28",
        "end": "2025-03-14",
        "tenure": "Extended",
        "return": -0.330801,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
        "start": "2025-03-21",
        "end": "2025-04-11",
        "tenure": "New",
        "return": -0.168745,
        "active": false
      },
      {
        "regime": "downward_expansion",
        "label": "Downward Expansion",
        "color": "red",
        "start": "2025-04-18",
        "end": "2025-05-09",
        "tenure": "New",
        "return": 0.109992,
        "active": false
      },
      {
        "regime": "balance",
        "label": "Balance",
        "color": "blue",
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        "end": "2025-05-30",
        "tenure": "New",
        "return": -0.038878,
        "active": false
      },
      {
        "regime": "upward_expansion",
        "label": "Upward Expansion",
        "color": "green",
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        "end": "2025-09-19",
        "tenure": "Established",
        "return": 0.068205,
        "active": false
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      {
        "regime": "deceleration",
        "label": "Deceleration",
        "color": "amber",
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        "end": "2025-10-10",
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        "return": 0.097796,
        "active": false
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      {
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        "active": true
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        "activity_lines": [
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          22.993051,
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      },
      {
        "date": "2026-05-01",
        "close": 26.1,
        "volume": 48,
        "typical_volume": 14978.35,
        "trend": 21.61839,
        "fair_value": 19.155792,
        "relative_strength": 20.500079,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
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        "activity_lines": [
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      },
      {
        "date": "2026-05-08",
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        "typical_volume": 14731.45,
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        "fair_value": 19.159965,
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        "energy": 83.600661,
        "activity_lines": [
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      },
      {
        "date": "2026-05-15",
        "close": 25.42,
        "volume": 78,
        "typical_volume": 14563.75,
        "trend": 22.204751,
        "fair_value": 19.155619,
        "relative_strength": 14.549811,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
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        "energy": 70.550811,
        "activity_lines": [
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      },
      {
        "date": "2026-05-22",
        "close": 25.959999,
        "volume": 45,
        "typical_volume": 14494.5,
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        "fair_value": 19.162775,
        "relative_strength": 13.811728,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
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      },
      {
        "date": "2026-05-29",
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        "typical_volume": 14052.65,
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        "fair_value": 19.154592,
        "relative_strength": 2.34707,
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        "activity_lines": [
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      },
      {
        "date": "2026-06-05",
        "close": 23.059999,
        "volume": 7,
        "typical_volume": 13354.95,
        "trend": 22.86826,
        "fair_value": 19.144257,
        "relative_strength": -1.295801,
        "stage": 2,
        "regime": "upward_expansion",
        "modifier": "Re-accelerating",
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        "direction": 28.981401,
        "energy": 19.448229,
        "activity_lines": [
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      },
      {
        "date": "2026-06-12",
        "close": 22.26,
        "volume": 5,
        "typical_volume": 11717.95,
        "trend": 22.936139,
        "fair_value": 19.132829,
        "relative_strength": -7.52934,
        "stage": 2,
        "regime": "deceleration",
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        "activity_lines": [
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      },
      {
        "date": "2026-06-19",
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        "relative_strength": -3.002531,
        "stage": 2,
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        "energy": 24.832975,
        "activity_lines": [
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      },
      {
        "date": "2026-06-26",
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        "fair_value": 19.150859,
        "relative_strength": -6.409073,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 5.240489,
        "energy": 19.709764,
        "activity_lines": [
          23.380667,
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          23.685205
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      },
      {
        "date": "2026-07-03",
        "close": 25.040001,
        "volume": 4,
        "typical_volume": 8177.25,
        "trend": 23.360059,
        "fair_value": 19.170248,
        "relative_strength": -1.693037,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
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        "direction": 26.144801,
        "energy": 16.890456,
        "activity_lines": [
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        ]
      },
      {
        "date": "2026-07-10",
        "close": 23.469999,
        "volume": 40,
        "typical_volume": 7611.1,
        "trend": 23.400957,
        "fair_value": 19.17622,
        "relative_strength": -6.961409,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 9.112975,
        "energy": 7.114264,
        "activity_lines": [
          23.882,
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          24.233233,
          23.809911
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      },
      {
        "date": "2026-07-17",
        "close": 23.73,
        "volume": 19,
        "typical_volume": 5907.15,
        "trend": 23.439842,
        "fair_value": 19.179052,
        "relative_strength": -4.279325,
        "stage": 2,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 20.581202,
        "energy": 9.776493,
        "activity_lines": [
          23.898667,
          23.836,
          24.227879,
          23.83114
        ]
      },
      {
        "date": "2026-07-24",
        "close": 23.25,
        "volume": 384,
        "typical_volume": 3851.5,
        "trend": 23.472759,
        "fair_value": 19.185009,
        "relative_strength": -7.55273,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Recompressing",
        "gate": "up",
        "direction": 5.137409,
        "energy": 5.410237,
        "activity_lines": [
          23.657333,
          23.687636,
          24.164322,
          23.818892
        ]
      },
      {
        "date": "2026-07-31",
        "close": 23.309999,
        "volume": 185,
        "typical_volume": 1196.7,
        "trend": 23.474989,
        "fair_value": 19.191291,
        "relative_strength": -7.429582,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Momentum cooling",
        "gate": "up",
        "direction": 2.44805,
        "energy": 12.791866,
        "activity_lines": [
          23.514666,
          23.589636,
          24.0929,
          23.808392
        ]
      },
      {
        "date": "2026-08-07",
        "close": 23.809999,
        "volume": 60,
        "typical_volume": 880.3,
        "trend": 23.475439,
        "fair_value": 19.210807,
        "relative_strength": -8.383081,
        "stage": 3,
        "regime": "deceleration",
        "modifier": "Momentum cooling",
        "gate": "up",
        "direction": 7.926577,
        "energy": 12.182576,
        "activity_lines": [
          23.531333,
          23.630727,
          24.05648,
          23.830005
        ]
      }
    ],
    "method": {
      "price_basis": "completed market observations",
      "trend": "Trend provides the primary directional reference.",
      "fair_value": "Fair Value provides long-term price context and is not a forecast or target.",
      "relative_strength": "Relative Strength shows leadership or lagging performance against the market benchmark.",
      "classification": "The SM framework combines Trend, Activity, Fair Value, Relative Strength and participation into a structural read."
    }
  }
}